Strenuous efforts are being undertaken for transition to national currencies in mutual settlements
In the first half of 2022, Russia’s trade turnover with CIS countries grew by 7%, year-on-year, to $46 billion. In 2021, Russia’s trade turnover with CIS countries rose by over 30% and totaled $96 billion, Russian President Vladimir Putin said at a meeting of the CIS Heads of State Council. The transcript of the President’s speech has been published on the official website of the Kremlin.
“Joint activities on import substitution, strengthening of technological and financial sovereignty have intensified. In particular, strenuous efforts are being undertaken for transition to national currencies in mutual settlements between CIS countries,” said Vladimir Putin. According to him, that allows to expand commodity exchange regardless of external factors, as well as to undertake mutual investments and contribute to continental economic integration.
The president also emphasized the growth of CIS countries’ mutual interest in cooperation towards the development of ‘green’ economy, digitalization, broader innovation, comprehensive and rational use of the natural resources.